Evoke Holds Revenue Steady Despite Higher UK Gaming Taxes
United Kingdom.- 13 August 2026 | www.zonadeazar.com Evoke closed the first half of 2026 with revenue of £887.5 million, broadly unchanged from £887.8 million in the corresponding period last year.
The group, which owns brands including William Hill and 888, operated in a significantly more challenging environment following increases in gambling taxes across several core markets, most notably the UK.
Financial Performance
Evoke’s EBITDA fell 12% to £124.8 million, while adjusted EBITDA reached £150.2 million, in line with company expectations.
The group faced a £46 million year-on-year increase in gaming duties during the period.
A large proportion of that impact came from the UK, where Remote Gaming Duty increased from 21% to 40% from 1 April 2026.
Evoke said it managed to offset more than half of the gross duty headwind during the first half through lower and more efficient marketing expenditure, improved promotional efficiency and operational cost savings.
UK and Ireland Performance
Online revenue across the UK and Ireland increased 4%, supported by 7% growth in gaming and continued strong performance from William Hill.
Adjusted EBITDA from the UK and Ireland online business also increased 28%, despite the tax pressure.
Revenue from 888 declined, however, with Evoke attributing the performance to a strategic decision to prioritise profitability and customer economics rather than pursue lower-return volume.
International and Retail Business
International revenue declined 2%, despite growth of 21% in Italy and 13% in Denmark.
Spain, Romania and other Rest of World markets delivered weaker performances.
International adjusted EBITDA fell 20%, primarily as a result of higher gaming duties in Romania and Italy.
Retail revenue increased 4% year-on-year on a like-for-like basis, supported by the 2025 rollout of gaming machines and improvements to self-service betting terminals.
On a reported basis, however, retail revenue declined 3% because of the smaller shop estate.
Evoke operated approximately 270 fewer shops than during the same period last year. In May 2026 alone, the group closed 200 William Hill shops, representing around 15% of its retail estate.
Statements
Evoke CEO Per Widerström said the first half demonstrated the resilience of the business in a significantly more challenging operating environment.
He highlighted that operational improvements implemented in recent years, together with measures to mitigate higher gaming duties, had allowed the company to maintain operational momentum, protect profitability and sustain cash generation.
Bally’s Intralot Takeover
The results come as Evoke moves closer to its acquisition by Bally’s Intralot.
The transaction, announced in June and valued at approximately £243.1 million, is structured as an all-share takeover.
The deal still requires shareholder and regulatory approvals, but completion remains on track for the fourth quarter of 2026 or first quarter of 2027.
Until the transaction closes, Evoke said its priorities remain unchanged: serving customers, supporting colleagues, maintaining disciplined execution and generating strong cash flow.
Next Steps or Impact
Evoke did not issue forward financial guidance because of the proposed takeover.
The group’s immediate challenge will be to continue absorbing the impact of a significantly higher tax burden, particularly in the UK, while maintaining profitability across its core brands and completing the transition to Bally’s Intralot.
Editó: @fonta
